How Much is Auto Insurance for a Company Car in San Jose?

For your employer’s vehicle, one of the largest criteria that are looked at to help calculate insurance cost is where you call home in San Jose. Larger areas tend to have more expensive auto insurance rates, whereas more rural areas receive better rates.

The illustration below sorts the most costly cities in California for a company car to buy an auto insurance policy in. San Jose makes the list at #19 with a yearly premium of $1,395 for car insurance, which is approximately $116 each month.

How much does auto insurance cost in San Jose?
Rank City Average Per Year
1 Los Angeles $2,168
2 Glendale $2,121
3 Oakland $1,755
4 San Francisco $1,711
5 Sacramento $1,703
6 San Bernardino $1,628
7 Long Beach $1,610
8 Santa Clarita $1,595
9 Fontana $1,581
10 Stockton $1,556
11 Modesto $1,547
12 Riverside $1,542
13 Moreno Valley $1,536
14 Garden Grove $1,524
15 Fresno $1,502
16 Santa Ana $1,483
17 Anaheim $1,474
18 Huntington Beach $1,402
19 San Jose $1,395
20 Fremont $1,389
21 Irvine $1,384
22 Bakersfield $1,381
23 San Diego $1,340
24 Chula Vista $1,337
25 Oxnard $1,318
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Premium costs are approximated as specific San Jose garaging address can alter premium rates considerably.

The vehicle model you are buying coverage for is one of the largest factors that determines whether or not you can buy cheaper car insurance for a company car. Vehicles with limited speed and performance, good safety features, or a positive history of liability claims will cost significantly less to insure than adrenaline junky models. The information below features insurance premiums for the cheapest vehicles to buy coverage for.

Cheapest Vehicles to Insure in San Jose, CA
Make and Model Estimated Cost for Full Coverage
Honda CR-V EX 4WD $988
Ford Explorer XLT 2WD $1,081
Ford Escape XLT 4WD $1,090
Dodge Grand Caravan SE $1,081
Toyota RAV4 Limited 4WD $1,143
Ford F-150 XLT Regular Cab 2WD $1,156
Honda Civic LX 4-Dr Sedan $1,182
Toyota Prius $1,209
Honda Odyssey EX W/Rear Entertainment $1,224
Chevrolet Impala LS $1,230
Volkswagen Jetta SE 4-Dr Sedan $1,227
Ford Edge SEL 2WD $1,260
Toyota Tacoma Double Cab TRD Off-Road Package 4WD $1,275
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Cost estimates assume single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, safe-driver, and homeowner. Information does not factor in specific zip code location which can raise or lower coverage prices substantially.

Based upon these rates, we can assume that models like the Honda CR-V, Ford Explorer, Ford Escape, and Dodge Grand Caravan will be a few of the most budget-friendly vehicles to insure for your employer’s vehicle.

Deciding which insurers offer the most affordable insurance rates for a company car will take a little more sweat in order to find the lowest price quote. Each company uses different criteria for determining rates in each state, so we’ll take a look at the overall cheapest insurance companies in San Jose.

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Rankings for the cheapest California auto insurance companies
Rank Company Cost Per Year
1 USAA $1,109
2 Wawanesa $1,181
3 Century National $1,214
4 Nationwide $1,226
5 CSAA $1,234
6 21st Century $1,338
7 Grange $1,491
8 Allstate $1,497
9 Mercury $1,503
10 GEICO $1,529
11 Allied $1,556
12 Progressive $1,558
13 The Hartford $1,639
14 MetLife $1,654
15 Esurance $1,688
16 Unitrin $1,750
17 State Farm $1,750
18 Bristol West $1,795
19 Travelers $1,842
20 Farmers $2,026
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USAA has some of the cheapest car insurance rates in San Jose at around $1,109 each year. This is $542 less than the average premium paid by California drivers of $1,651. Wawanesa, Century National, Nationwide, and CSAA also make the cut as some of the cheaper San Jose, CA car insurance companies.

As shown in the rates above, if you are a policyholder with Wawanesa and switched to USAA, you might realize a yearly price reduction of in the neighborhood of $72. Policyholders with Century National could save as much as $105 a year, and Nationwide policyholders might lower prices by up to $117 a year.

To see if you’re overpaying, click here to get quotes or visit several of the following companies.

Understand that those premiums are averages for all types of insureds and vehicles and do not take into consideration an exact vehicle garaging location for a company car. So the company that can offer you the best price may not even be in the top 24 companies in the list above. That is why you need to get rate quotes from many companies using your own personal information and vehicle type.

Types of discounts on San Jose car insurance

Save on insurance for your employer's vehicle in San JoseInsurance providers that offer quotes for a company car may also offer discounts that could lower prices by as much as 30% if you are eligible. Larger insurance companies and a partial list of their discounts are:

The illustration below compares yearly insurance costs with and without discounts applied to the premium. The rate quotes are based on a female driver, a clean driving record, no claims, California state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with accident-free, anti-theft, vehicle safety, homeowner, passive restraint, and multiple vehicle discounts applied. With discounts applied, the average amount saved each year on insurance for a company car is 28% or $608.

The diagram below highlights how deductible selection can affect insurance rates when quoting cheap insurance for a company car. The premiums assume a single female driver, comp and collision included, and no discounts are taken into consideration.

A 40-year-old driver could reduce rates by $350 a year by switching from a $100 deductible up to a $500 deductible, or save $530 by choosing a $1,000 deductible. Even younger insureds, such as the 20-year-old example, have the ability to save up to $888 every year by selecting a higher deductible. If you make the decision to raise deductibles, it is a good idea to have emergency funds available to pay the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.

How violations and accidents impact rates

A great way to maintain low insurance prices for your employer’s vehicle is to be a safe driver and avoid accidents and violations. The example below demonstrates how citations and at-fault fender-benders influence yearly insurance costs for each age group. The rates are based on a married male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are taken into consideration.

In the previous chart, the average cost of car insurance per year with no violations or accidents is $1,768. Factor in one speeding ticket and the average cost swells to $2,034, an increase of $266 each year. Now add in one accident along with the one speeding ticket and the annual cost of insurance for a company car goes up to an average of $2,768. That’s an increase of $1,000, or $83 per month, just for being a careless driver!

Are you paying too much for car insurance in San Jose?

California insurance rates are based on many factors which can significantly increase or decrease the price of your policy. Improving your credit rating, becoming a homeowner, or getting a reckless driving citation can trigger price changes that may make certain companies cheaper than others. Not only may your situation change, but insurance companies amend premium rates as often as every quarter in order to offset underwriting gains or losses. Significantly higher losses can cause additional price hikes, while better underwriting can result in lower-priced San Jose car insurance rates.

To illustrate this point, the chart below analyzes the cheapest car insurance in San Jose, CA for a 40-year-old female driver with no violations or accidents, and excellent credit. When quoting prices based on her personal risk profile, USAA may have the best car insurance rates in San Jose at $1,266 each year. This is $385 less than the average price paid by California drivers of $1,651. Wawanesa, CSAA, Century National, and Nationwide are also included in the cheapest San Jose, CA auto insurance companies.

Let’s now give the driver from the first example a couple of claims, a lower credit rating, and a traffic ticket or two. Because each insurer has a proprietary method to determine rates, analyzing rates may result in a completely different list of the cheapest car insurance companies in San Jose as shown below.

Grange now has the best auto insurance rate in San Jose, CA with Mercury, GEICO, Allied, and Allstate now rounding out the top five. This illustrates why San Jose drivers need to compare rates to find affordable auto insurance quotes for a company car.

Insurance rates are made up of many risk factors and change substantially, so the lowest-price company the last time you checked may now be priced much higher than other options.